1. Field of the Invention
The field of the invention relates to computer systems for conducting auctions over a computer network, and to methods for conducting auctions over a computer network.
2. Description of the Prior Art
Traditional negotiation platforms allow the host to create a one-dimensional list of lots and/or items for bidders to bid on.
In negotiations, there are existing algorithms that will allow a host to convert non-price attributes into cash terms and/or convert price bids into non-price scores. However these algorithms are poorly understood by potential users with the result that they are underutilised.
In general a faceted search requires the server to return all relevant data first, and then allows the user to select from different facets.
3. Discussion of Related Art
In EP0900424B1, there is provided a system and method for conducting a multi-person, interactive auction, in a variety of formats, without using a human auctioneer to conduct the auction. The system is preferably implemented in software. The system allows a group of bidders to interactively place bids over a computer or communications network. Those bids are recorded by the system and the bidders are updated with the current auction status information. When appropriate, the system closes the auction from further bidding and notifies the winning bidders and losers as to the auction outcome.
In EP1012764B1, which includes the disclosure of prior art FIG. 20, there is provided a method of holding auctions which take place in a computer environment, where a plurality of sellers (2) and bidders (3) may submit bids from local computers to a central computer (1), a so-called server which may e.g. be coupled via the Internet. The server (1) may offer a catalogue (5) to the individual bidders (3) who can then prepare, via their own computers, a prioritized list of the articles which they may possibly desire to buy. The auctioning system incorporates the certainty, via a list of purchase conditions, that a bidder does not risk buying too many articles, or that he will not spend too much money, in the same manner as is known from a traditional live auction. It is moreover noted that the auctioning system may be combined with an ordinary live auction. The auctioning form gives a very advantageous price formation which considers both sellers' and buyers' interests. Furthermore, the auction may take place entirely without geographical limitations.
As disclosed in EP1012764B1, in prior art FIG. 20 the numeral 1 designates a central computer, a so-called auction server, from which an auction is controlled. The central computer has data connections to a plurality of sellers 2 and a plurality of bidders 3. As additionally disclosed in EP1012764B1, in prior art FIG. 20 the central computer 1 has a catalogue storage 5 which contains information on the articles to be auctioned. Also included are a bid packages storage 6 containing information on the possible bids of each individual bidder, a bid storage 7 for submitting bids to the central computer, and a storage 8 for storing and submitting the auction results.